Ripple, the blockchain technology company closely associated with the XRP Ledger (XRP) network, said on Monday that it acquired crypto wallet provider Palisade to expand its institutional payments and custody offering.
Palisade’s wallet-as-a-service platform will be integrated into Ripple Custody, a product designed for banks and corporations that handle digital assets, stablecoins, and real-world tokenized assets.
Ripple said Palisade offers tools for high-speed, high-frequency use cases, such as on- and off-ramps or enterprise payment flows, where users need secure wallets that can be created and deployed quickly. The technology also supports multiple blockchains and can interface with decentralized finance (DeFi) protocols.
Ripple’s broader strategy is to build a crypto-native alternative to traditional financial infrastructure. That includes cross-border payments, liquidity, stablecoin issuance and, increasingly, the tools needed to manage assets securely. Ripple said it now holds more than 75 regulatory licenses globally and supports banks such as BBVA, DBS and Societe Generale’s cryptocurrency division.
With the acquisition of Palisade, Ripple gains the technical capacity to serve faster-moving customers, such as fintechs that need instant wallet creation for new users or corporations that manage global treasury operations, Ripple President Monica Long told CoinDesk in an interview.
“Palisade offered the best set of capabilities to complement what we’ve built with Ripple Payments, which has grown tremendously this year with the proliferation of stablecoin payments,” Long said.
The acquisition follows Ripple’s 2023 purchase of Swiss custody company Metaco and three other deals this year: $1.25 billion for prime broker Hidden Road (now Ripple Prime), $200 million for stablecoin payments company Rail, and treasury technology provider GTreasury.
Read more: Ripple expands US institutional offering with introduction of Prime Spot digital asset brokerage
